Land Transfer Tax

How the tax is calculated:
 
- 0.5% on the amount of the value of the consideration up to $55,000
- 1.0%  over $55,000 up to a maximum of $250,000
- 1.5% over $250,00 up to a maximum of $400,000
- 2.0% over $400,00

Examples:

- if a home cost $100,000 the amount of land transfer tax is $725.00 ($55,000 x 0.5% = $275.00, add this to ($100,000 - $55,000 = $45,000 x 1% = $450.00;  $750.00 in tax
- if a home cost $200,000, the amount of land transfer tax is $1,725.00
- if a home cost $300,000, the amount of land transfer tax is $2,975



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